CNQ Stock Summary and Trading Ideas (Canadian Natural Resources | NYSE:CNQ)

Canadian Natural Resources Ltd is an independent crude oil and natural gas exploration, development, and production company. The Company's exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea, and Cote d'Ivoire and South Africa in Offshore Africa. The Company's exploration and production activities are conducted in three geographic segments: North America, the North Sea, and Offshore Africa. These activities include exploring, developing, producing, and marketing crude oil, natural gas liquids, and natural gas. The company has two divisions; Oil Sands Mining and Upgrading, Midstream and Refining. It derives a majority of its revenue from North America.

Canadian Natural Resources trades on the NYSE stock market under the symbol CNQ.

As of April 24, 2024, CNQ stock price declined to $76.91 with 2,532,695 million shares trading.

CNQ has a beta of 0.76, meaning it tends to be less sensitive to market movements. CNQ has a correlation of 0.12 to the broad based SPY ETF.

CNQ has a market cap of $82.37 billion. This is considered a Large Cap stock.

Last quarter Canadian Natural Resources reported $7 billion in Revenue and $1.72 earnings per share. This beat revenue expectation by $79 million and exceeded earnings estimates by $.12.

In the last 3 years, CNQ stock traded as high as $82.58 and as low as $29.49.

The top ETF exchange traded funds that CNQ belongs to (by Net Assets): CGDV, PID, GCOW, DIHP, DFAI.

CNQ has outperformed the market in the last year with a return of +33.3%, while the SPY ETF gained +24.2%. In the last 3 month period, CNQ beat the market returning +23.9%, while SPY returned +4.6%. However, in the most recent 2 weeks CNQ has underperformed the stock market by returning -6.0%, while SPY returned -2.7%.

CNQ support price is $75.88 and resistance is $78.26 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CNQ stock will trade within this expected range on the day.